Here's another one from just last week: https://www.sec.gov/news/pressrelease/2017-11.html https://www.sec.gov/news/pressrelease/2017-11.html That doesn't expli

Here's another one from just last week: https://www.sec.gov/news/pressrelease/2017-11.html https://www.sec.gov/news/pressrelease/2017-11.html That doesn't explicitly mention frontrunning but it's guaranteed that's what they were doing. These guys aren't dumb. By "arbitrating broken market rules" I meant that these HFT firms are exploiting our dysfunctional market system at no risk to themselves (like Virtu's single-day loss in a 6 year period). They engage in things like quote stuffing which incidentally increases volatility, decreases liquidity and leads to higher trading costs. For quote stuffing in particular the SEC investigated and decided to do nothing. The SEC is fully incompetent as the ITG and Citadel slap-on-the-wrist fines for outright illegal activity further demonstrate. My point about HFT firms being frontrunning scams is basically true.